Widespread Popularity of Internet of Things (IoT) propelling the growth of Smart Hospitals Market

2018-03-22 19:00:40

According to a new report published by Reports Monitor titled, “Global Smart Hospitals Market, Growth Opportunities, Innovations and Forecast, 2017-2025,” the Smart Hospitals market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.

Smart hospital primarily focuses on the optimized and automated process with aim of enhancing the patient care procedures. It combines the technologies such as cloud computing, big data analytics and Artificial intelligence to make the hospitals smart.

Integration of the technologies such as block-chain technology, bio-telemetry, drug development by the combination of big data and genomics forms the major factor in boosting the market growth. Increasing popularity of IoT in the healthcare sector has resulted in the generating lucrative opportunities in the market. However the high initial investment and integration complexities involved is expected to slow down the market growth.

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The Global Smart Hospital Market Professional Survey Report scrutinizes the present scenario and the future growth prospects of the Industry. It covers the market canvas and the growth opportunities in the coming years. The report has been made with an in-depth and detailed analysis along with important inputs from the various industry experts.

The technological segmentation of smart hospital market is listed as follows: Depending upon the components used the market is segmented into hardware, software and services. Depending upon the connectivity the market is bifurcated into: wired and wireless technology. Further the wireless technology can be segmented as: Wi-Fi, Bluetooth, zigbee and others. Based on the technology adopted the market is divided into: Artificial intelligence, big data, and internet of things (IoT) and machine learning. Based on the application the market is segmented into: remote medicine management, electronic health records, medical assistance and clinical workflow.

Depending upon the geographical reach smart hospitals market is analyzed across North- America, Europe, Asia-Pacific and Latin America, Middle-East and Africa (LAMEA). Among the following regions North America is projected to hold major market share owing to the increased adoption of IoT in the healthcare sectors and the adoption of strategies such as partnership, collaboration of private and public sectors, while Asia –Pacific is expected to emerge as a fastest growing region owing to increased concern towards the healthcare mainly in the developing economies such as China, Japan, and India. Expansion in the IT and electronics sectors is also contributing in the market growth.

The key vendors in the smart hospital market are: Philips, GE Healthcare, Medtronic, Qualcomm Life, Honeywell Life Care Solutions, Stanley Healthcare, SAP, Microsoft, Allscripts, Cerner Corporation, McKesson.

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